RIYADH: Mithaq Capital SPC, a Saudi family investment office incorporated in the Cayman Islands, but headquartered in Riyadh, has become the biggest shareholder in Israeli mobility intelligence company Otonomo Technologies Ltd, Bloomberg reported, citing a July 20 regulatory filing.
According to the report, Mithaq Capital, a family office for the Al Rajhi family, recently increased its stakes in the Israeli firm to 20.41 percent, making it the biggest shareholder in the firm.
“We like the innovation and the technology culture that Israel has, and we try to find ways to benefit from that,” said Muhammad Asif Seemab, managing director of Mithaq Capital.
He added, “As part of our investment process — other than Shariah compliance — we are country-agnostic and sector-agnostic.”
This is not the first time that Mithaq Capital SPC has become the biggest shareholder in an Israeli firm. It is already the largest shareholder in Israeli digital advertising company, Tremor International Ltd.